Beg gaining of 18th century saw usage of currency called straight and Malayan dollar, which Malayan government issued in Singapore. In 1953 Board of Commissioners of Malaysia issued two new Currencies called Borneo dollars and Malay dollars .Breaking up of monetary union was direct result of Singapore’s expulsion from Malaysia and later on getting declared as independent state .This resulted in breaking away from Malaysia and Brunei. On April 1967 Singapore established its own Board of currency and issued its first independent currency in form of coins and notes. Today also Singaporean is at par with Malaysian currency ringgit and Brunei currency the Brunei dollar.
Initially Singaporean dollar was pegged to British pound and later on US dollar too. Later on with growth in economy and infrastructure it joined the basket of currency .The Board of Commission of Singapore currency was subsequently dissolved in 2002 giving way to MAS or Monetary authority of Singapore .This body till day governs all issuance of currencies and printing and minting activities too.
1967-First series of coins were minted in denominations of cents of 1,5,10,50 cents and 1$this were made of alloy of copper and nickel called cupronickel as was the norms during those days for currencies all over world. Bronze was only used for 1 cent coin .The sizes were also reduced for ease of operations.
Current coins have coat of arms of Singapore engraved on one side and on reverse have floral themes. No new one and five cents coins are to be issues although old one is still in circulation. The coins which were minted in 1985 and are currently used have following distinguished features. All the coins have symbols of coat of arms in common although their edges, sizes color and reverse side pictures varies .All the coins carry the year of first minting on them .
One cent coin is copper plated edges are plain and flower vanda joquaimÂ
Five cent coin is Aluminum bronze with ridged edges and flower is monster delicosaÂ
Ten Cent coin is cupronickel with ridged edge and flower is jasminum multiflorum
Twenty cent coin is cupronickel with ridged edge and flower is Callindara
Fifty cent coin is coin is cupronickel with ridged edge and flower is Allamandra CatharicaÂ
The latest addition to Singaporean currency is one more 50 cent coin which is in circulation today and was issued in 1990 and is made of Cupronickel but has Singapore lion on it along with inscription of Republic of Singapore the it too carries coat of arms on one side and other side had flower is Allamandra Catharica
One dollar coin is made of alloy of aluminium and bronze and has Singapore lion on it along with inscription of Republic of Singapore the it too carries coat of arms on one side and other side had flower is Lochenera rosia engraved o it .
There are three series in which the Singaporean notes were printed called the Orchid series, the bird series and the ship series
The Orchid Series – $1, $5,$10,$50,$100 and $1000 were issued in this series in June 1967
$25&$500 notes were additional to this year 1972 and also note of $10,000
The Bird Series-1976-1980
$20 notes was introducedÂ
Same denominations were issued except for $29 note ad later on $2 note was introduced towards 1990. The color scheme of current dollar notes are dollar 2is purple,5 is green 10 is red,50 is blue ,100 is orange and 1000 and 10,000 dollar notes are of royal color purple and gold respectivelyÂ
The current and latest series is called the Portrait currency series, Issuing year was 1999, Dollar 500 and Dollar 1 were not issued. This note also features the picture of Singapore’s President Yusof bin Ishaq.this notes are in circulation in paper as well as polymer substance. The distinguishing feature between polymer note and paper note is polymer notes are slippery in feel and carries design of small transparent window on corner of note of like designs another remarkable thing to be noticed about these notes are that they carry Braille pattern.
So we have face of President on one side of note and on the other side Singapore state symbol
Similarly we have all other notes in various denomination of other currencies both available In paper and polymerÂ
Another Unique feature of Singaporean currency is that special notes called Comme rative notes which coincide with special events of the country. For e.g. Celebrating 25th year of Singaporean independence or even to celebrate coming in of millennium special notes were printed in 1999.
Notes of Brunei and Malaysia notes are accepted and circulated in Singaporean market also noteworthy is acceptance of Singaporean dollar with same value in this countryÂ
1 Singapore dollar (SGD) =0.76394USD
1 Singapore dollar (SGD=0.563073EUR
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